News articles tagged Income Tax Department

The elimination of indexation benefits in real estate will discourage secondary market sellers

The real estate sector expresses concern over proposed elimination of long-term capital gains indexation benefits, seeing it as a potential hindrance to expansion and increased tax burdens.

Property tax for buyer

India's real estate market is booming. TDS applies to property transactions exceeding ₹50L. Buyers must deduct 1% TDS, deposit it with the Income Tax Dept.

Income Tax Raided 6 Builders; Around Rs.100 Cr Will Be Recovered

The Income Tax department raided Surat's real estate developers, seizing Rs.8 lakh in cash and Rs.45 lakh in jewelry, aiming to recover around Rs.100 crore.

Real Estate Barons and Brothers Kill Each Other

Ponty and Hardeep Chadha, real estate moguls, were killed during a property dispute at their farmhouse, leading to police arrests of implicated security personnel.

Lodha Group to pay Tax Rupees 60 crore

Income Tax officials seized large amounts of cash from Lodha Group employees, following previous raids and tax requests, highlighting ongoing investigations into financial misconduct.

Income Tax Department Procured Real Estate worth Rs 2,500 crore in a Fiscal

The Income Tax Department has significantly expanded its real estate holdings, acquiring properties worth ₹2,500 crore across over 20 cities to enhance taxpayer services.

Income Tax Department to Probe Suspected Real Estate Deals.

The Income Tax Department is investigating real estate deals in New Delhi to combat black money and tax evasion. They will scrutinize developer funding and individual transactions.

HDIL to offer Rs 350 cr as income

HDIL will book INR 350 crore in the remaining quarters following an Income Tax raid, denying any hidden income or tax evasion.

Income-tax Heat On Builders For Forged Claims On Waivers

Twelve Pune real estate developers face scrutiny for falsely claiming Rs 65 crore in tax waivers on low-cost housing schemes. The Income Tax department plans to issue notices, impacting tax collections amidst a market slowdown.

Income Tax Dept To Scan Realty Deals For Evasion

Income-tax department to closely monitor real estate transactions over ₹30 lakh, with scrutiny triggers including gross income mismatch and large cash deposits.

CHB A Profit Making Agent For Real Estate Developers

Chandigarh Housing Board accused of favoring Parsvnath Developers, potentially losing hundreds of crores in revenue